AT&T/TM/VZ/ASTS satellite JV vs Starlink; stock at 52-week low; CFO retirement; whistleblower; analyst targets
Key Questions
What is the satellite joint venture involving AT&T and how does it relate to Starlink?
AT&T is part of a Big 3 + ASTS JV for direct-to-device service with spectrum pooling targeted for May 2026. FCC approval of EchoStar's $40B deal includes AT&T paying $22.65B and SpaceX $22B, while Stankey confirmed AT&T's multi-constellation approach including ASTS.
Why has AT&T's stock reached a 52-week low and what risks are highlighted?
The stock fell to $20.44 amid Oppenheimer's downgrade citing Starlink competition and fiber adoption risks, plus SCOTUS regulatory risks and a new whistleblower complaint. Bearish views quantify potential $3-4B FCF erosion by 2035 from SpaceX and EchoStar, though capped at 1% rural impact.
What are the current analyst price targets for AT&T in this satellite context?
Analyst targets include Barden at $165/$161 and Freedom Broker at $30, with Gregory Williams reiterating a Hold and $32 target. AAII assigns a deep value grade amid the developments.
Big 3 + ASTS JV for D2D; May 14 '26 spectrum pooling. FCC approves EchoStar $40B to AT&T/SpaceX with escrow condition; AT&T paying $22.65B, SpaceX $22B. SpaceX IPO highlights Starlink: 12M global subs, 3M US, V3 satellites 1 Tbps. Stankey confirms ASTS + multi-constellation. Oppenheimer downgrade on Starlink competition and fiber adoption risk; stock fell to 52-week low $20.44. CFO caps satellite at rural 1%. SCOTUS ruling adds regulatory risk. New whistleblower complaint (APT10). AAII deep value grade. Analyst PT: Barden $165/$161, Freedom Broker $30. Bearish SA quantifies $3-4B FCF erosion by 2035 from SpaceX/EchoStar, countered by 1% cap and deep value. TD Cowen reiterates Hold/$32, balanced risks.